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News of  May 09, 2001

BMW Financial Services Appoints New Chief Financial Officer

WOODCLIFF LAKE, NEW JERSEY - BMW Financial Services of North America, LLC (BMW FS) has announced today the appointment of Gerald Holzmann to the position of chief financial officer. Holzmann previously served as managing director and president of BMW FS in Italy, a position he held since 1999.

Holzmann joined BMW as a group accounting specialist in 1990. During his time with the company, he has held the positions of controller (1994-1997) and chief financial officer of BMW FS in Italy (1997-1999). Prior to joining the company, he worked as a business controller and IT assistant for Nixdorf Computer AG from 1987 to 1990 and as a trainer for software courses at NCR GmbH from 1986 to 1987.

Holzmann is a graduate of the University of Augsburg and earned a master's degree in business administration in 1987.

(May 8, 2001)

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